(MENAFN) Dubai-based developer Nakheel said that it has recorded a 43 percent increase in its net profit in 2014 to USD1 billion compared to USD699.56 million in 2013, due to the delivery of residential units and plot sales, Emirates 24/7 reported.
During 2014, the company handed over 1.117 units to customers in projects such as Palma Residences and Palm Views on Palm Jumeirah, Al Furjan, International City, Jumeirah Village, Jumeirah Park and Jumeirah Heights.
"2014 was our biggest year yet in terms of financial performance and achievements. Not only did we clear all Dh7.9 billion of our outstanding bank debt four years ahead of time, we also completed and delivered our first new project " Palma Residences " since restructuring," Company Chairman said.
The developer added that it expects to award around USD1.90 billion worth of construction contracts in 2015 to several projects including Deira Islands Mall, The Circle Mall and Al Khail Avenue at Jumeirah Village, The Palm Tower, Ibn Battuta expansion and several other residential, retail projects and hospitality projects in the emirate.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.